7 July 2015
Egorov Puginsky Afanasiev & Partners successfully complete the defense of the White Sea Group

Egorov Puginsky Afanasiev & Partners’ Litigation Practice Team managed to settle the corporate conflict with the former owners of Vitino Sea Port and Belomorskaya Oil Terminal that had lasted for over two years, as well as have the property of Vitino Sea Port and Belomorskaya Oil Terminal returned and released from third-party claims.

In 2013, the Firm’s lawyers were retained by the official receivers appointed by the English court to preserve the assets of Vitino Sea Port and Belomorskaya Oil Terminal that were to be transferred to BTA Bank JSC under the debts of the former Chairman of the Bank’s BoD Mukhtar Ablyazov.

As a result of nearly two years of work, the Firm reached a complete resolution of the corporate conflict with the former owners, as well as secured the return and release from third party claims of assets of Vitino Sea Port and Belomorskaya Oil Terminal. Failure to do so could have resulted in loss of control over the companies.

Thanks to the strategy developed by the Firm’s lawyers, all 27 corporate dispute cases were successfully resolved, and the client regained control over White Sea Group, as well as an opportunity to implement an efficient asset management strategy. Along with that, the Firm’s associates managed to have the trust agreements, whereby all the assets of White Sea Group were transferred to third-party companies, invalidated and challenged many transactions meant to siphon assets off the companies.

For two years, White Sea Group was counselled by the litigation practice team at Egorov Puginsky Afanasiev & Partners headed by Partners Valery Eremenko and consisting of Counsel Vera Rikhterman, Senior Associate Oleg Koyda, Associates Olga Borisenko, Julia Bobrova, Lev Vasilievykh, Andrey Reznichenko, and Ekaterina Usmanova.

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